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2608 Coffey Drive Denton, TX 76207

3 Beds 2 Baths 1,819 sqft Built 1999

$274,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $151.13
  • 4 Days on Market
  • MLS # : 14504471
  • Updated Date : 01/30/2021 at 12:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,819 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors-frisco

Listing Agent's Description

Welcome to this charming home located conveniently in Denton with quick access to Highway I-35 and shopping. Arrive home to beautiful trees and sprawling front lawn. Walk inside and be greeted by an open kitchen and living room concept, neutral colors, and cozy fireplace. Built-in floor-to-ceiling shelves in the front room, with large window open to the front yard. The bedrooms are spacious with nice size closets. The floorplan is splendid and the backyard is expansive with the home sitting on almost one quarter of an acre! The HVAC system, sprinkler system and beautiful wooden fence have all been replaced within the last 3 years. Come see this meticulously maintained gem!

SEE MORE

MARKET HIGHLIGHTS

  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Westgate Hills North

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $101k249k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Westgate Hills North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8111769

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Evers Park Elementary School Primary Regular 546 44 5
Calhoun Middle School Middle Regular 684 54 4
Denton High School High Regular 2,166 140 6

Evers Park Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 44
5
GreatSchools Rating

Calhoun Middle School

  • Education Level: Middle
  • # of students: 684
  • # of teachers: 54
4
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$955
Property Tax -$547
Property Insurance -$132
Property Management Fees -$99
CASH FLOW
-$43

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$274,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$9,432

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,690

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,801

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6903$1,6954$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 2608 Coffey Drive Denton, TX 2
    • 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.93
    •  
  • 2520 Bauer Drive Denton, TX 1
    • 3 beds 3 baths ∙ 1,729 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,729 Sqft ∙ Built 1991
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 2213 Lookout Lane Denton, TX 3
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2000
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
  • 2605 Bauer Drive Denton, TX 4
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1991
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.09
    •  
  • 2317 Lookout Lane Denton, TX 5
    • 4 beds 2 baths ∙ 1,894 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,894 Sqft ∙ Built 2000
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
PROPERTY LISTING DETAILS
Christina Ford
Ebby Halliday, Realtors-frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504471
Last Updated: 01/30/2021
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